Retail
A High-Earning Couple's Debt-to-Retirement Journey with Kids
2024-12-10
In the world of careers and finance, there are stories that inspire and show the power of smart choices. One such remarkable tale is that of Eman and Kristine Vergara. These two individuals started their financial journey in 2017 with a significant amount of debt but have now set themselves on a path to early retirement.

Unlock the Secrets to Early Retirement with Minimalism

Financial Independence Journey Begins

Seven years ago, Eman Vergara stumbled upon a book that would change their lives. This discovery led them to realize the potential of early retirement and financial independence. They began to calculate their net worth and saw the possibilities that lay ahead.

The couple, with Eman working in funds management and Kristine as an accountant, started to make changes in their spending habits. They shifted from a maximalist lifestyle to one of minimalism, cutting back on expenses and focusing on saving.

Embracing Minimalism for Financial Freedom

After reading more books and listening to podcasts, Eman and Kristine sold their car and started renting as needed. They swapped expensive supermarkets for Aldi and reduced their travel and dining out expenses. These lifestyle changes allowed them to pay off a significant amount of debt, including AU$24,000 in credit-card debt and AU$26,000 in student loans.

As they moved from Sydney to Toowoomba, a city with a lower cost of living, they were able to increase their savings rate from 50% to 75%. Their combined net worth now stands at about AU$3 million, or about $2 million, with a portfolio breakdown that includes property in Australia and the Philippines, stocks, and a superannuation account.

Family and Financial Independence

Since starting their journey towards financial independence, Eman and Kristine have welcomed two children into the world. Their motivation for this change was to have more autonomy and the ability to travel as a family before their children started school.

Kristine retired from her full-time accounting role about three years ago, while Eman continues to work in funds management with a flexible arrangement. They refer to themselves as "coast FIRE" and plan to take a sabbatical when Eman turns 40 and travel for nine months of the year while homeschooling their children.

Raising Kids with a Work Ethic

As they approach partial or full retirement in the next few years, Eman and Kristine are focused on teaching their children the value of work. They believe in raising kids with a hunger for ambition and want them to understand the power of saving and compound interest.

The couple encourages their children to be involved in volunteering and community work and pick up a trade skill from a young age. They also teach them the importance of saving at least half of their income and staying away from credit cards.

After Giving Birth to a Disabled Child, She Had a Third to Share the Care
2024-12-09
Nina Goodwin, a 40-year-old woman, initially had a limit of two children and never planned to have a baby in her 40s. However, her life took a different turn when her first daughter, Mabel, was born with Down Syndrome. This unexpected event led her to question her future parenting plans.

Discovering the Power of Sibling Support in Parenting

Overcoming Initial Doubts

Nina was initially focused only on raising her first child and couldn't imagine having more. The thought of another child with potential neurodivergence was too much to bear. But as she connected with the Down Syndrome community, she began to see the benefits of having siblings. It gave her hope that Mabel would grow up with the love and support she needed.

She realized that having a brother or sister would provide Mabel with a sense of belonging and reduce the isolation she might feel. This realization led to the birth of her second daughter, Nancy.

The Unfolding Realization

As Nancy grew, Nina noticed how she took on a motherly role with Mabel. This made her realize the potential burden on Nancy if something were to happen to her and her husband. The guilt of potentially tying Nancy's future to caregiving weighed heavily on Nina's heart.

She worried that Nancy might have to sacrifice her own dreams and freedom to care for Mabel. This realization led Nina to make a difficult decision and have a third child, Edith.

The Journey to Having Edith

The path to having Edith was not easy. Nina faced physical and mental challenges, including three miscarriages. But her determination to ensure Mabel's future led her to continue.

When Edith was born, a weight lifted from Nina. She saw how Edith's arrival would share the responsibility of caring for Mabel. It also helped heal some of the grief she felt about Mabel's disability.

Setting Up for the Future

Financially, Nina and her husband set up a trust for Mabel to ensure she could pursue her dreams. They wanted all their daughters to fulfill their potential and be happy.

Nina's message to her daughters as they grow is simple: look after each other. She believes that with the support of their siblings, they can face any challenges that come their way.

See More
Two Australian Chefs: From Top Restaurants to Nursing Home Meals
2024-12-10
Erin Liam brings you an inspiring story of two Australian chefs who defied the norm and dedicated themselves to serving premium meals in nursing homes. These chefs, David Martin and Harry Shen, have left the glitz and glamour of top restaurants to make a significant impact on the lives of elderly residents.

"Chefs Redefining Nursing Home Food Standards"

David Martin's Journey

David Martin, now 35, had a successful career in the restaurant and fine dining scene. Working up to 16 hours a day took a toll on him, and he was on the verge of burnout. His parents suggested he try working in a nursing home, and initially, he was hesitant. But with an open mind, he gave it a shot and never looked back. Today, he is an executive chef manager at St Vincent’s Care, a nursing home facility in Australia.During his time in the nursing home, he noticed the importance of providing quality food for the elderly. He understood that not all nursing homes have the same resources, but it's about setting a standard. As he said, "The main thing is the frame of mind. The chef can be creative, whether it's adding a bit more garnish for presentation or baking things in-house rather than buying."

Harry Shen's Story

Harry Shen, 39, is a senior head chef who also left the restaurant scene. He had worked under top chefs and picked up shifts at Australian nursing homes in the past. When he saw a job posting from St Vincent’s for a chef to elevate nursing home food, it caught his attention. He shared the same vision as Martin – to raise the standard of food in aged healthcare.Working with Martin, they worked during the pandemic to reinvent meal plans at one of St Vincent’s healthcare centers in Kew. The facility offers a more premium nursing home option, with a standard room costing 171 Australian dollars a night. The menu includes a variety of delicious options, such as seared steak and warmed apple coconut strudels.For residents with dysphagia, a common geriatric syndrome that affects swallowing, the chefs provide a range of options. They ensure that everyone, regardless of their swallowing difficulties, can enjoy a hearty meal.

Competing on the World Stage

In 2023, Martin and Shen decided to compete in culinary competitions together. After placing in several local competitions, they were invited to apply for the International Salon Culinaire, one of the world's top competitions for chefs. Their dishes at the competition included coconut rice pudding with crème brûlée and seafood paella – food that they can serve in a nursing home.They emerged with two silver medals, but their message was more important. They wanted to show the world that nursing home food can be just as good as restaurant food. As Martin said, "We want to make this industry better for now and into the future for our parents and grandparents to be respected in."

The Graying World and the Importance of Food

Shen and Martin's efforts come at a time when nations worldwide are facing a rapid aging population. In the US, the aging of the baby boomer generation means an increase in the need for nursing home care. Dr. Andrea Maier from the National University of Singapore emphasized the importance of raising food quality in nursing homes. Fresh and well-plated food gives residents motivation to eat and has emotional impacts.As Wee Shiou Liang from the Singapore University of Social Sciences said, "Dining is one thing that people look forward to other than engagement activities. So, that experience is even more important."

Collaboration and Impact

Martin and Shen now collaborate as co-creative directors on menus in St Vincent’s homes across New South Wales and Victoria. They also manage and mentor chefs in the region. Neither chef intends to return to the restaurant scene. They are moved by the impact they have on their residents.Each meal, pastry, or salad could be the last dish their residents eat. And that's what matters to them – giving comfort to those in serious pain. As Martin said, "They don't need to remember your name. They don't need to remember the dish. But if at that moment they realize they were at ease and were comforted by you – that's the heart of it."
See More